Thursday, July 19, 2007

Ericsson's Sales Rise 8% in Q2

Ericsson reported Q2 net sales of SEK 47.6 billion, an increase of 8% driven by organic growth and acquired sales. Organic growth amounted to 6%. Ericsson said that because the US dollar has continued to weaken, sales growth has been affected negatively.

"We continue to outpace the market," said Carl-Henric Svanberg, President and CEO of Ericsson. "Sales showed an encouraging year-over-year increase this quarter, primarily driven by Asia Pacific. Europe, Middle East and Africa were softer while we see improving trends in the Americas. Margins were stable with improved cash generation."

On another note, Ericsson said the total number of mobile subscriptions worldwide has now reached three billion, a milestone for our industry.

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